Vietnamese Foreign Minister Pushes for Market Economy Recognition from the US: A Step Towards Stronger Economic Ties

Vietnam’s Foreign Minister Son expresses hope for US recognition of ‘market economy’ status

In Washington, Vietnamese Foreign Minister Bui Thanh Son expressed his hope that the United States would soon recognize Vietnam as a market economy. Currently, the US categorizes Vietnam as a ‘non-market economy’ in import injury cases, which can result in higher anti-dumping duties.

During remarks at the Brookings Institution think tank, Son emphasized the importance of enhancing economic trade and investment cooperation between the two countries following the agreement of a Comprehensive Strategic Partnership last year. He highlighted key areas for collaboration including supply chain resilience, infrastructure connectivity, digital economy, energy, green economy, and logistics. By focusing on these areas, both the United States and Vietnam can strengthen their economic ties and create opportunities for growth and development in the region.

Son’s remarks underscored the importance of fostering closer economic relations between the two countries. By working together on key priorities such as supply chain resilience and infrastructure connectivity, the United States and Vietnam can expand their cooperation and unlock new opportunities for trade and investment. Recognizing Vietnam as a market economy would further facilitate economic collaboration and help both countries realize the full potential of their partnership.

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